ING Groep NV Has $2.43 Million Position in MercadoLibre, Inc. $MELI

Key Points

• ING Groep NV cut its MercadoLibre stake by 54.6% in the fourth quarter, selling 1,450 shares and leaving it with 1,206 shares valued at about $2.43 million.
• MercadoLibre posted mixed quarterly results: revenue rose 49% year over year to $8.85 billion, but EPS of $8.23 missed analyst expectations of $8.75.
• Wall Street remains cautiously positive on MELI, with a consensus rating of “Moderate Buy” and an average price target of $2,255.33, even as several firms trimmed their targets.

ING Groep NV decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 54.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,206 shares of the company's stock after selling 1,450 shares during the period. ING Groep NV's holdings in MercadoLibre were worth $2,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MELI. Baillie Gifford & Co. raised its holdings in MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors raised its holdings in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital World Investors raised its holdings in MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company's stock worth $4,067,194,000 after purchasing an additional 22,659 shares during the period. Capital International Investors raised its holdings in MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after purchasing an additional 118,018 shares during the period. Finally, Schroder Investment Management Group raised its holdings in MercadoLibre by 9.8% in the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company's stock worth $1,432,565,000 after purchasing an additional 50,893 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Up 1.8%

Shares of NASDAQ:MELI opened at $1,641.16 on Wednesday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $1,721.27 and its 200 day simple moving average is $1,880.43. The firm has a market cap of $83.21 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 0.99 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business earned $9.74 earnings per share. The company's revenue was up 49.0% on a year-over-year basis. As a group, research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MELI shares. UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Jefferies Financial Group upgraded shares of MercadoLibre from a "hold" rating to a "buy" rating and cut their target price for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Citigroup lowered shares of MercadoLibre from a "buy" rating to a "neutral" rating and cut their target price for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. BTIG Research reiterated a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, Daiwa Securities Group lowered shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,255.33.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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